By EconMatters
A choppy day in the oil market with a very tight pit trading range. API will set the tone for Thursday`s EIA Inventory report, API is out tomorrow night after the pit close.
https://www.youtube.com/watch?v=GOMFNCz8ecI
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For the longest time, it was "the most hated rally ever" and, as even the Davos crowd has now admitted, with good reason: it was all central bank manipulation and intervention, both of which are about to lose all potency forcing even the billionaires to admit that "the trade now is to hold as much cash as possible." As the WSJ summarized three weeks ago, the billionaires' "mood here was irritated, bordering on affronted, with what they say has been central-bank intervention that has gone on too long."
Submitted by Dex Dunford via OilPrice.com,
Already reeling from low prices, officials with Mexico’s state-run Pemex are also fighting an ever intensifying battle against pipeline theft as organized crime tries to gain a foothold in the country’s newly reformed energy sector.
From loosely organized groups of locals to feared drug cartels, those who believe there is a significant amount of illicit profit to be made here are coming out of the woodwork—and for starters they are eyeing pipelines.
We were stunned 10 days ago when, out of the blue, it seemed as if Deutsche Bank had finally figured it out: namely that constant central bank intervention is leading to increasingly more dire outcomes... such as a surge in DB CDS and its stock price plunging to record lows.
The bank which had been crushed over the past month, released a solemn appeal to the ECB and BOJ, in which it made it quite clear that any additional easing and continuous easy money will only hurt both DB and its peer banks.
When BofA's Michael Hartnett releases his monthly Fund Managers' Survey, the one chart we always head straight to is the one laying out what the "smart money", aka the polled investors who make up the survey, is most worried about, or as they put it: what are the biggest "tail risks."
The chart below shows that as recently as a month ago, what jept everyone at night by a substantial margin, with 45% putting it as their top fear, was a China Recession, followed by an EM debt crisis.
How things have changed in the subsequent month.